10/5/1937 - Laserfiche WebLink

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1 L 11 1 16B 0-! l6� Thereupon Commissioner 'Pickers iiitroduced: -the following resolution and moved its adoption, to -wit: BE IT RESOLVED by the Board of County Commissioners of Indian River County, Flora in session duly assembled; Section 1. That, in the consideration of the matters hereinafter referred to, the attention of the State Board of Administration, Tallahassee, Florida, is directed to resole= tion heretofore adopted by this Board authorizing the issuance of the Road and Bridge Refundr ing Bonds hereinafter more particularly described, certified copy of which has been furnished to said State Board by the Clerk of this Board. Section 2. That the said State Board is hereby directed, in view of the refunding of the originally outstanding bonds, to transfer to the Interest and Sinking Fund account of said Refunding Bond issue described in said resolution all interest and sinking fund balances credited to the issue of bonds refunded pursuant to said resolution identified. Section 3, That, after effecting the transfers of funds as provided in Sections 2 and 4 hereof, said State Board is hereby directed to remit to the designated paying agent sufficient money to pay the interest coupons due on said Refunding Bonds in accordance with the certified bond and coupon schedule which has-been or.will be furnished, it being the in- tention and purpose of this Board that said remittances be not forwarded in advance,_ but tha said funds be remitted at the latest possible date allowing only sufficient time for their f receipt by the said paying agent on the date said coupons are due to be paid; said Road and Bridge Refunding Bonds being;,identified as follows, to -wits Amt. of Int. Date of Issue Designation Issue R9te January 1, 1937 Special Road & Bridge Dist, No, 4 Road and Bridge Refunding Bonds $4450000.00 4%5% Section 4. That, although this Board has heretofore adopted, for and on behalf of the taxing unit whose bonds were refunded under the resolution above identified, the provis:*3 ions of Chapter 15,891, Laws of Florida, Acts of 1933, known as the Kanner Bill, and desires to continue operations under said law except where said operations would interfere with the payment of coupons as hereinabove provided to be made, nevertheless this Board has deter- mined and does hereby declare that the best interest of the designated taxing unit, and the taxpayers therein, are served if sufficient funds are transferred from the so-called Kanner Bill account for the issue of bonds hereinabhve identified to make the payment directed to be made as hereinbefore specifically provided, in Section 3 hereof, and the said State Board is hereby directed to make such transfers when necessary, it being the desire of this Board of County Commissioners that all advalorem taxes credited to the interest and sinking fund as hereinabove set forth be first u®ed for the designated payments and only such Kanner Bill funds transferred at the time specified as are necessary to make up the difference between the available interest and sinking funds and the total amount required to be paid hereunder, Section 5. That the State Board of Administration is hereby requested to approve the transaction herein provided for, and to instructits proper officers to do and perform the acts hereinabove authorized, upon receipt of advices from the Clerk of the Board of County Commissioners of this County that the refunding program identified herein is in such shape that the instructions hereinabove given should be consummated. Section 6. That the Clerk of this Board is hereby instructed to prepare in tab- ulated form and certify to said State Board in due course a full description of the Refund- ing Bonds as set forth in the resolution above identified, setting forth the bond and coupon schedules to maturity, and the Clerk shall also forward certified copy of .this resolution to the said State Board which shall be the authority Of said Board to do and perform all acts necewsary to accomplish the purposes set forth herein.